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Views: 175 DOM: 184 Updated: 09.25.24 Posted: 06.01.24 Status: Active

Summary

Price $3,978,495
Built/Renov 2024
Tenant Raising Cane's (GL)
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,286
Lease Start 11-01-2024
#Units 736
Price/SF $1,210.74
Expiration 10-31-2039
Tenant Type Fast Casual/Rest.
NOI $185,000
R. Term 14.11
Ownership Ground Lease
Rent/SF $56.30
Increases 10.0%/5/yrs
Pop 5Mi 193,241
Lot/AC 1.02
Options 5/5yrs/10%
AHHI 5Mi $115,350

Lease Highlights

  • Brand-new 2024 construction
  • Brand-new 15-year ground lease with 5 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Raising Cane's is strategically located at the signalized, hard corner intersection of Bald Hill Road and West Natick Road, the primary retail corridor, with access to a combined daily traffic count of 32,300 vehicles. The property is conveniently situated across the street from the Warwick Mall, 1.4 miles from the Community College of Rhode Island, 2 miles from the Kent County Memorial...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Raising Cane's
  • Guarantor:Corporate
  • Company:Raising Cane's Restaurants LLC
  • # Units:736
  • Stock:Private

About Tenant

Founded by Todd Graves in 1996 in Baton Rouge, Louisiana, Raising Cane’s is one of the fastest-growing quick-service restaurant chains in the U.S. Renowned for its fresh, never frozen chicken...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 8,692 61,901 190,859
2024 Total Population : 8,673 61,289 191,183
2024 Employed Civilian Pop : 4,141 32,276 103,114
2024 Total Businesses : 647 4,061 8,511
2024 Average Household Income : $ 95,570 $ 107,874 $ 111,471
2024 Total Consumer Spending : $ 339 M $ 2469 M $ 7841 M
2024 Median Age : 45 44 43
2024 Total Households : 4,042 26,200 80,866
2024 Pop Age 25+: Bachelor's Degree : 1,515 9,566 30,905
2024 Average Home Value : $ 405,149 $ 418,477 $ 411,671
*ESRI data is presented for informational purposes only

Listing Broker

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